Audit: TVA overbilled by financial advisers

CHATTANOOGA, Tenn. — An audit shows the financial management firm Deloitte Consulting overbilled the Tennessee Valley Authority by $4.8 million from 2003 through 2008.

The audit by the TVA’s Office of Inspector General describes the overbilling, much of it involving overtime, as “unsupported or not in accordance” with contracts that were reviewed.

Deloitte spokesman David Thompson told the Chattanooga Times Free Press that the firm “strongly disagrees with the inspector general’s assertions.”

TVA spokesman Scott Brooks said there will be a thorough review of the audit and TVA will decide if reimbursement should be pursued.

TVA hired Deloitte to perform independent reviews and provide advisory services related to programs such as computer services and proposed legislation.